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Credit Bureaus

BUSINESS
April 12, 1989 | From Times wire service s
Sen. David Pryor (D-Ark.) urged an investigation today into the verification for banks and credit unions of Social Security numbers, which he called the "largest breach of privacy in the history" of Social Security . In a letter to Louis W. Sullivan, secretary of health, education and welfare, Pryor requested the inquiry by the HHS inspector general into the legality of the transactions and into the competence and credibility of its chief, Dorcas...
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BUSINESS
April 25, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
TRW Inc. will begin next week its long-awaited program to provide consumers with a free copy of their credit report, upon request. "We're encouraging consumers to take advantage of it when it will benefit them the most--prior to a major purchase," TRW spokeswoman Susan Murdy said. "It will help consumers understand our role in the credit-granting process." TRW announced in October that it will become the first of the nation's three major credit bureaus to offer free reports.
OPINION
June 22, 2012
Re "Credit card complaints to go public," June 19 The American Bankers Assn. is opposed to making the Consumer Financial Protection Bureau's credit card complaint database information public because "it would be a public 'outing' of a bank's relationship with its customers based on 'incomplete, unrepresentative and unverified' data. " These same banks have no problems reporting incomplete, unrepresentative and unverified data to the various credit bureaus. The damage done to individuals' financial lives by incomplete, unrepresentative and unverified data in a credit report is far more severe and long-lasting than could possibly be the case for such data in the credit card complaint database.
REAL ESTATE
May 26, 1991 | ELLEN JAMES MARTIN, THE BALTIMORE SUN
Looking to buy a home in the near future? Then take a serious look at your credit. "The mortgage lender is going to pull credit reports on you and those reports are going to weigh very heavily. These days, especially, you're going to have to answer for any credit screw-ups or difficulties," says Keith Gumbinger, of HSH Associates, a mortgage research company. Mortgage experts like Gumbinger say that it is smart to order copies of your credit reports at least a month before you seek a mortgage.
BUSINESS
April 11, 2010 | Liz Pulliam Weston, Money Talk
Dear Liz: My husband racked up more than $17,000 in credit card debt and negotiated a settlement for $4,000 last year. We received a 1099-C form for $13,000 of forgiven debt, which we have to claim as income. That puts our modified adjusted gross income over the threshold of being able to claim tuition and college expense deductions for our three kids and myself. We now owe more than $11,000 in taxes and we don't have the cash to pay. Any advice would be greatly appreciated. Answer: You may think owing an $11,000 tax bill because you saved $13,000 on a credit bill is bad enough.
BUSINESS
October 2, 2011 | Liz Weston, Money Talk
Dear Liz: I'm 27 and have been working hard for the last few years to bring up my FICO credit score. I've paid off all my credit card debt and disputed errors on my credit report. I'd like to purchase a home in the next few years and am trying to get my score over 700 (I am currently at 615). I have three credit cards that I regularly use and pay off. Do you have any suggestions on how I can continue to bring up my credit score? Should I take out a personal loan? Should I apply for another credit card?
BUSINESS
December 14, 1994 | VIVIAN MARINO, ASSOCIATED PRESS
In the next few weeks, after the gifts have been opened, the tree taken down and party decorations packed away, some less cheery reminders of Christmas will linger as holiday bills arrive. Free spenders may find themselves unable to handle their mounting debts. But financial experts warn that falling behind with payments can be expensive and jeopardize future borrowing plans.
CALIFORNIA | LOCAL
June 23, 1990 | CHRIS WOODYARD, TIMES STAFF WRITER
U.S. Secret Service agents have uncovered a fraud ring that was funneling sensitive credit information out of the TRW Credit Data Division, one of the nation's largest credit bureaus, authorities said Friday. The investigation, conducted with the aid of TRW security personnel, is nearly complete, The Times has learned. Several sealed indictments have been obtained, according to the Secret Service, which investigates credit card fraud.
REAL ESTATE
October 4, 1998 | LEW SICHELMAN, SPECIAL TO THE TIMES
Home buyers are no longer being penalized for searching long and hard for the best mortgage rate and terms. Now, thanks to a group of lenders who worked to persuade the three credit bureaus to change their method of rating mortgage applicants, you can scout around for the best deals until you are satisfied you can't do any better. "This is huge," says Ginny Ferguson, a Pleasanton, Calif., mortgage professional who led the assault as chairman of the National Assn.
BUSINESS
July 10, 2011 | By Scott J. Wilson, Los Angeles Times
The higher your credit scores, the better shot you have of getting a loan or credit card application approved. Improving your credit scores takes time, but it can be done. Start by getting free copies of your three major credit reports at the government-authorized site annualcreditreport.com. 1. Check your reports for accuracy. Financial columnist Liz Weston, author of "Your Credit Score," says to look for credit cards or other accounts that aren't yours, negative entries that are more than seven years old, duplicate past-due items and incorrect Social Security number or date of birth.
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